The number of PSB branches in the country has increased over the past 10 years, while the staff strength has declined.
After several Public Sector Banking (PSBs), acknowledged the lack of staff, the Finance ministry reportedly asked bank chiefs for an assessment of the current employment situation within these entities. According to a report in Times of India (TOI), the ministry requested a monthly plan for banks.
There are more PSB branches in rural areas than there are private banks. According to bankers, rural residents prefer using the services of branches over going online. There is a shortage in clerical staff to handle the large number of customers.
According to the TOI, there has been an increase in branches of PSBs in India over the past 10 years (March 2021 to March 2021). From 67,466 branches in 2010-11, to 86,311 by 2020-21, the number of branches grew by 28 percent. However, the total staff has declined from 776,000 to 771,000 in 2010-11 and to 771,000 in 2020-21.
The number of officers has increased by 26%, but the number subordinates has dropped sharply.
This is after Prime Minister NarendraModi asked government departments to create 1,000,000 jobs by December 2023. Also, Finance Minister Nirmala Sitharaman stated recently that front desk staff at banks should be fluent in the local language.
According to reports Financial Services Secretary Sanjay Malhotra will meet bankers to seek a time-bound plan of job creation in PSBs.